Utilities and public transportation priced at$20 in 1962→$151.86 in 2019

Historical Price Inflation for Utilities and public transportation

Prices for Utilities And Public Transportation, 1962-2019 ($20)

According to the U.S. Bureau of Labor Statistics, prices for utilities and public transportation were
659.30% higher
in 2019 versus 1962 (a $131.86 difference in value).

Between 1962 and 2019:Utilities and public transportation experienced an average inflation rate of 3.62% per year.
This rate of change indicates significant inflation.
In other words, utilities and public transportation costing $20 in the year 1962 would cost $151.86 in 2019 for an equivalent purchase.
Compared to the overall inflation rate of 3.80% during this same period, inflation for utilities and public transportation was
lower.

In the year 1962: Pricing changed by 1.34%, which is
below the average yearly
change for utilities and public transportation during the 1962-2019 time period.
Compared to inflation for all items in 1962 (1.18%), inflation for utilities and public transportation was
higher.

Price Inflation for Utilities and public transportation since 1957

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing:
1981 (14.89%),
1980 (14.25%),
and 1982 (12.41%).

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Utilities and public transportation:

Buying power of $20 since 1962

Below are calculations of equivalent buying power for Utilities and public transportation, over time, for $20 beginning in 1962. Each of the amounts below is equivalent in terms of what it could buy at the time:

How to calculate the inflation rate for utilities and public transportation, 1962-2019

Start with the inflation rate formula:

CPI in 2019 / CPI in 1962* 1962 USD value = 2019 USD value

Then plug in historical CPI values from above. The CPI for Utilities and public transportation was 28.523 in the year 1962 and 216.577 in 2019:

216.577 / 28.523* $20 = $151.86

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1962 has the same "purchasing power" as $151.86 in 2019 (in the CPI category of Utilities and public transportation).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Utilities and public transportation in 1957. In addition to utilities and public transportation, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.